Is Interest on Unsecured Loan, paid in cash (e.g. 10,000 per month) Allowable Expenditure ???
It is assumed that T.D.S. is deducted.
kindly advice the same...
Mukesh Mittal (CA Final) (87 Points)
11 July 2011Is Interest on Unsecured Loan, paid in cash (e.g. 10,000 per month) Allowable Expenditure ???
It is assumed that T.D.S. is deducted.
kindly advice the same...
CA lakshmikanth
(Chartered Accountant)
(238 Points)
Replied 12 July 2011
yes it is allowable Expenditure subjet to availment of PAN cards of lenders
Mukesh Mittal
(CA Final)
(87 Points)
Replied 12 July 2011
Thanks. But will S.269T have any impact on the above case. please advice...
Live class on PF & ESI Enrollment & Returns Filing(with recording)
CAclubindia
